CORPORATE GOVERNANCE

The Austrian Code of Corporate Governance came into effect on 1 October 2002. These regulations prescribe the principles of good business management and serve as an orientation aid for international investors. They are based on the provisions of the Austrian shares, stock market and capital market law as well as on the OECD Guidelines for Corporate Governance.

KTM AG has complied with the Austrian Code of Corporate Governance since preparations began for the IPO in autumn 2003. The Code of Corporate Governance is an important part of the cooperation between KTM  AG’s supervisory board and management.

The Code, which goes beyond the legal provisions, becomes valid through voluntary compliance by a company. Acknowledgement of the Code means that any non-compliance with C Rules ("comply or explain") must be justified. The Company must have the implementation of the Code regularly evaluated by an external institution and must report publicly on the findings.

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